By notice published in the Federal Register on November 24, 2025, the United States Postal Service (the “USPS”) added a Section 608.11 (“Section 608.11”) to its Domestic Mail Manual (the “DMM”) effective as of December 25, 2025, to clarify (or some would say, to revise) when an item is “postmarked” under the DMM. These regulations
The Internal Revenue Service (“IRS”) announced a new electronic filing platform for Form 15620 to make an election pursuant to Section 83(b) of the Tax Code. 83(b) elections allow a taxpayer who receives equity compensation in a business that is subject to a substantial risk of forfeiture, such as a vesting agreement, to claim the
On July 25, 2025, the Internal Revenue Service (IRS) released Private Letter Ruling 202530002, where it summarized the requirements for aggregating separate nonoperating mineral interests into a single property under Section 614(e) of the Internal Revenue Code (Code) and Section 1.614-5(d) of the Treasury Regulations (Regulations) for purposes of computing the depletion deduction. Under Section
The Court of Chancery of Delaware recently validated the Delaware asset protection trust laws and rejected a creditor’s attempt to seize assets held in a Delaware asset protection trust in order to enforce a $14 million judgment from Michigan against the trust’s grantor. In the Matter of the CES 2007 Trust. The creditor alleged that
On December 30, 2024, the Department of the Treasury (the “Department”) finalized regulations regarding information reporting by brokers who operate decentralized finance (DeFi) platforms in T.D. 10021.
On July 4, 2025, the President of the United States signed the One Big Beautiful Bill (the “Bill”), which included significant taxing and spending modifications. To pay for extending certain tax cuts and other changes, the bill adds an Adjusted Gross Income (“AGI”) floor for charitable contribution deductions for both individuals and corporations.
President Donald J. Trump signed the “One Big Beautiful Bill Act”, H.R. 1, 119th Cong., on July 4th, just one day after the House passed it on a 218-214 vote.
Governor Jeff Landry signed Act 384 into law on June 20, 2025, making changes to the sales and use tax provisions of the revised statutes. Included in the changes was an amendment to Section 305.1 of Title 47, which provides an exemption for certain vessel-related supplies and services. The ships and ships’ supplies exemption has
The Capital Construction Fund (“CCF”) program is a joint program of the Internal Revenue Service and the United States Maritime Administration that provides federal income tax incentives, mostly through tax deferral, to vessel owners and operators.
Despite voters rejecting several tax-related constitutional amendments in a March referendum, the Louisiana Legislature has approved two new amendments to appear on the ballot next April. The two amendments would afford the Legislature more flexibility in developing budgets and making tax changes.